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Apr 28, 2024
Photronics Q2 2024 Earnings Report
Photronics reported second quarter fiscal year 2024 results, with revenue and gross margin in line with the first quarter, but impacted by temporary soft demand and earthquakes in Taiwan.
Key Takeaways
Photronics reported revenue of $217.0 million for Q2 2024, a 5% decrease year-over-year but a 0.3% increase sequentially. GAAP net income was $36.3 million, or $0.58 per diluted share, while non-GAAP net income was $28.7 million, or $0.46 per diluted share. The company's performance was affected by business headwinds, including soft demand following the Chinese New Year holiday and the impact from earthquakes in Taiwan, which caused an approximately $3 million revenue impact.
Revenue was $217.0 million, down 5% year-over-year and up 0.3% sequentially.
GAAP net income was $36.3 million, or $0.58 per diluted share.
Non-GAAP net income was $28.7 million, or $0.46 per diluted share.
Cash balance at the end of the quarter was $539.2 million.
Photronics
Photronics
Photronics Revenue by Segment
Revenue by Segment
IC Revenue
CapyFin.comFPD Revenue
CapyFin.com Forward Guidance
For the third quarter of fiscal 2024, Photronics expects revenue to be between $221 million and $229 million and non-GAAP net income attributable to Photronics, Inc. shareholders to be between $0.53 and $0.59 per diluted share.
Revenue & Expenses
Visualization of income flow from segment revenue to net income